The latest year-ahead Capacity Market auction has delivered a record amount of contracted back-up power. The results of the T-1 capacity market auction for 2023-24 show that 5.8GW of capacity has been secured, with a clearance price of £60/kW - the second highest in a T-1 auction. Among the talking points from the auction were the success of nuclear plants and the extension of a coal power station unit's life, which one analyst said was a sign that "coal is not dead … yet”.
Capacity Market secures record year-ahead power
